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"Comparing Currency" - Mon. AM KTFA Thoughts/News 5/7/18

Now why would Mr. Abadi ... at this point in time .... compare his currency with that of his neighbors ????????? ... imo

Abadi hints at Iran: groups prevail over the interest of a state that binds the interests of Iraq

Sunday 06 May 2018

Iraqi Prime Minister Haidar al-Abadi on Saturday attacked Iraqi groups hinting at those linked to Iran, accusing them of giving priority to the interest of their state in Iraq's interests.

"Iraqi groups belong to countries, because they are in the best interests of those countries," Abadi said in a television interview. Yes, we disagree within the country, but we have to unite on the interest of Iraq, why do the interests of others serve your interests? "

He added: "When dealing with the Iraqi issue are trying to marginalize the Iraqi victories and achievements, as if it highlights the others much better than Iraq," he said,

​Abadi said that "in a simple look at our economy and the economy of neighboring countries whose economy is supposed to be stronger; the neighboring countries are high inflation and the rise in prices is terrible and the collapse of their currencies, although we have passed a difficult situation, we are in a war they are not, The impact of the collapse of oil prices on us more than them. "

"Why do you highlight the achievements of the other and do not highlight the achievement of the Iraqis? Why is this beating on Iraq?" He said.

Although Ebadi did not explicitly mention Iran, activists in social networking sites interpreted Abadi's talk that he was directed to Iran's allies in Iraq by armed politicians and militias, because Iran is an oil country affected by the collapse of oil prices and today is witnessing a deterioration in currency prices.

What is more, a number of Iraqi militias have been established by Iran and have joined forces to fight alongside the Syrian regime since the revolution in Syria in 2011, where the leaders of these militias recognize their loyalty to Iran and carry out its command. link

Samson » May 7th, 2018

The fragile economic recovery

7th May, 2018

The global economy is undergoing a period of strong economic growth, albeit at a faster pace than 2003-2007, but from a growth perspective in that period, we should perhaps be grateful for this blessing

Growth rates in 2017, as projected by the International Monetary Fund for the years 2018 and 2019, are projected to be higher than any other year since the crisis, with the exception of years of post-crisis recovery in 2010 and 2011, and we are experiencing times of fragile recovery

In its latest report, the IMF raised its forecast for global economic growth this year and the following year by 0.2 percentage points above its previous forecast in October 2017. That improvement extended developed economies by 0.5 and 01.4 percentage points in 2018 and 2019, respectively. Britain is the only member of the Group of Seven (G7) countries that have not been adjusted for the better, and this is the early price for their exit from the EU

Taking into account protectionist voices in the US, the most significant adjustment may be the improvement in the expected growth in global trade, which the IMF expects to grow faster now by 1.1 percentage points in 2018 and 0.8 percentage points in 2019

There are two main reasons for the strength of the global economy and this growing optimism about short-term expectations, both due to the fact that monetary policy remains supportive of that power, while the world has avoided major economic shocks since the collapse of commodity prices in 2014 and 2015

Markets expect US interest rates to rise more sharply than in October. However, monetary policy will not be tightened in accordance with historical standards, as the expected rate is below 3% even in early 2021. This optimism is due in large part to the fact that inflation was marginal, mainly wage inflation, despite low unemployment

In addition to monetary policy, the substantial financial consolidation of the economic cycle resulting from unfunded US tax cuts should be added. The Congressional Budget Office expects an average federal deficit of just under 5% of GDP between 2019 and 2027

This combination into a full employment economy brings us back to the late 1960s and early 1970s. That period has ended very badly. But the view of the International Monetary Fund is not too catastrophic, stating that the US fiscal policy has borrowed growth from the future

What is the risk of a good outlook for the future? In the short term, the IMF says the risks are balanced. On the positive side, confidence may lead to a larger-than-expected increase in investment and consumption. A stronger investment may result in productivity growth and lower inflation than expected

On the downside, the ambiguity surrounding the policy environment and the attendant market disruptions can lead to a significant reduction in confidence and hence to weak demand. One of the most fragile places in the euro area, where Gavin Davis said growth was unexpectedly falling

In the long run, however, the risk appears to be likely to move towards the downside. It is true that we may be at the beginning of a period of sustained and rapid growth driven by the late rise in productivity growth and convergence between developed and emerging countries, but negative risks are stronger

The debt-to-GDP ratio is as high today as it was a decade ago, despite the change in structure: towards government and nonfinancial corporations, and away from domestic and financial sectors. Important asset prices are also high

The International Monetary Fund (IMF) notes that "credit risk may be contained at a time when global growth is experiencing strong momentum and low borrowing rates." However, if inflation stuns the world, monetary policy tightening increases more than expected, Bonds, debt problems will reappear and perhaps disastrously

If this happens, the range of response available from central banks will be limited. The Fund also notes that the rapid growth of "encrypted assets" and violations of cybersecurity may prove to be devastating

Moreover, there are deep world political tensions. The funny intellectual framework of US trade policy is being presented in the Fund's outlook, and away from deflation, the US current account deficit will expand as a result of fiscal consolidation. But this will not stop US President Donald Trump from blaming the foreigners

As the IMF's economic adviser, Maurice Obstfeld, puts it, "The rules-based multilateral trading system needs to be strengthened, and instead it is in danger of being torn apart."The IMF has been a product of more prudent times, and it is right to be reminded of it

At a time when an emerging superpower challenges an existing force, and when the latter turns against the world order that created it, it is ridiculous to feel complacent

We have already experienced a crisis in the global system for a decade, but policymakers have prevented it from turning into a systemic crisis. Now, as we live in a period of cyclical recovery, we face a system crisis, but our time is an era of economic and political weakness, while the recovery is real, but unfortunately it is fragile

Senior economic commentator in the Financial Times - Martin Wolf LINK

To increase the weekly cash quota for banks and exchange companies

May 07, 2018

To all licensed banks, all financial transfer companies and all exchange

companies ( increase cash quota )

To all licensed banks, all financial transfer companies and all exchange companies (increase the cash quota)

NO: Date:What increase the cash quota is a good greeting.On the occasion of the holy month of Ramadan, it is decided to increase the weekly cash quota of banks to be (300), 000 dollars per weekInstead of (270,000) and dollar exchange companies to be (130, 000) dollars per week instead of (100),000) as well as decide to sell the amount (300, 000) per week to the financial transfer companies in cash

The Central Bank decides to increase the monetary share of banks and financial transfer companies and exchange participating in the sale window of the currency

7th May, 2018

The Central Bank of Iraq decided to increase the monetary share of banks and financial transfer companies participating in the window selling the currency.

The Central Bank of Iraq in a letter addressed to banks and financial transfer companies and exchange companies, and carried the signature of the Deputy Governor Monther Sheikhli, and obtained by the "economy News",

"On the occasion of the month of Ramadan decided to increase the weekly cash quota of banks to be 300 thousand dollars a week instead of 270 thousand Dollars and exchange companies $ 130 thousand a week instead of $ 100 thousand dollars and you will decide to sell $ 300 thousand a week to the financial transfer companies in cash LINK